Cytokinetics soars as heart drug royalties share goes to Royalty

2 February 2017

US biopharma Cytokinetics (Nasdaq:CYTK) has agreed to sell a portion of the potential royalty due from US biotech Amgen (Nasdaq: AMGN) on worldwide sales of an investigatory heart failure drug to private equity firm Royalty Pharma.

Cytokinetics is selling to Royalty Pharma a 4.5% royalty on potential worldwide sales of omecamtiv mecarbil, a novel cardiac myosin activator, for $90 million in an upfront cash payment.

"The science behind omecamtiv mecarbil is highly novel and represents a potential paradigm shift in the management of heart failure"

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